- The company will deploy an installed capacity of 32MW of photovoltaic solar energy with lithium-ion battery storage systems with the Empower funding.
- WATT installs solar photovoltaic power plants with storage systems to supply electricity to telecom towers after sunset or during bad weather.
Empower New Energy is funding WATT Renewable Corporation, Calgary, Canada, with $13 million for hybrid solar systems. The hybrid solar systems would power telecom pylons in Nigeria. The firm has secured $13 million in financing from Empower New Energy, an investment company specialising in renewable energy.
WATT, working to decarbonise telecommunications masts in Nigeria, said this financing represents Empower New Energy’s largest investment to date. The company installs solar photovoltaic power plants with storage systems to supply electricity to telecom towers after sunset or during bad weather. Empower’s support will enable the deployment of 8 megawatts (MW) of installed capacity and 14.3 megawatt-hours (MWh) of storage capacity.
The Managing Director of WATT, Oluwole Eweje, noted, “This injection of funds will play a vital role in furthering our mission, and we are immensely grateful to Empower New Energy for their trust and support. With this funding, we are well-placed to continue serving the telecoms industry with reliable and sustainable energy solutions. Empower’s funding will certainly contribute to implementing WATT’s flagship projects.”
The firm had won a contract a few weeks ago from Airtel to install solar systems at about 600 sites across Nigeria. As part of this partnership, WATT will deploy an installed capacity of 32 MW of photovoltaic solar energy with lithium-ion battery storage systems. The company, which has an installed capacity of 12 MW, stated that once the installation is complete, WATT will continue to operate and maintain the power generation sites.